At $21.5 billion and accounting for 30.1% of total organic sales, organic produce held the top spot as the standout category, with berries and bananas leading the way.
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At $21.5 billion and accounting for 30.1% of total organic sales, organic produce held the top spot as the standout category, with berries and bananas leading the way.
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The trend towards more extreme-weather events will continue to hit crop yields and create price spikes, Inverto says.
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Interestingly, the University of California Organic Agriculture Institute failed to mention the state’s effort to legally codify a definition for regenerative agriculture.
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The OTA’s 2024 Organic Industry Survey said that (1) the increase in dollar sales was driven more by pricing than unit sales and (2) the term “regenerative” is adding confusion to the marketplace and poses a challenge to “organic.”
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Food companies are talking about smaller price increases this year, good news for grocery shoppers and restaurant diners.
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In letters to four industry groups, Senator Bob Casey said that smaller package sizes have played a key role in driving up unit costs for many goods, hurting shoppers while benefiting suppliers.
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“Even in food and beverage categories, over the last few quarters, the units, the number of items they’re buying, has been declining,” said Brian Cornell, the company’s CEO.
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With volumes down but prices up, major food companies are still seeing growing profits.
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As if running a food and beverage company wasn’t hard enough.
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Some fascinating data for organic brands targeting the U.S. Hispanic market.
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According to General Mills CEO Jeff Harmening, “Supply disruptions remain well above historical averages, and we aren’t forecasting a return to pre-pandemic levels of supply disruptions or customer service during this fiscal year.”
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Crop disease is ravaging lettuce fields in the Salinas Valley.
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Not a good thing for future food prices.
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Avian influenza has decimated conventional chicken flocks, leading to fewer eggs and higher prices.
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Food companies may be forced to choose between additional price hikes or potential layoffs.
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The price of water has increased for farmers, as rising temperatures and droughts in the Western region of the U.S. have hampered their ability to grow crops.
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Some companies and restaurants have continued to raise prices on consumers even after their own inflation-related costs have been covered.
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Food prices are soaring around the world, due largely to the pandemic and severe supply chain disruptions because of climate change.
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With factory-farmed meat suffering a litany of problems, the production of organic and grass-fed meats is growing.
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According to the latest report from the U.S. Bureau of Labor Statistics, the index for meats, poultry, fish and eggs increased 4.3%, and a separate index for egg prices alone surged by 16.1%.
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According to the Organic Trade Association, the U.S. organic market in 2018 broke through the $50 billion mark for the first time ever.
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The global growth in organic food has enabled sales to exceed the $100 billion mark for the first time ever.
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Last year, according to Nielsen, organic food and beverages cost an average of 24 cents more per unit than conventional food, or about 7.5% more. That was down from a 27 cent, or 9%, premium in 2014. One reason for this is the increase in number of organic products on the shelves.
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With a brutally competitive retail environment and a huge push to lower costs for consumers, it is uncertain whether organic brands will be able to raise prices?
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